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China’s cross-border interbank payment system (CIPS), launched on October 8, is revolutionising the way payments are made and received in RMB across the globe. The system is just in its first phase, but as it expands its reach, the role of offshore RMB clearing banks will be called into question.

A Chicago court has convicted a high frequency trader of ‘spoofing’ and commodities fraud, in a landmark case that could have dramatic implications for the futures market.

Oberthur Technologies, the French smart cards maker, indefinitely postponed its IPO on Wednesday, blaming poor market conditions.

Edag, a German company that specialises in providing engineering services to the car industry, started investor education on Wednesday for a Frankfurt IPO.

Amundi, Europe’s largest asset manager, has covered its IPO, which is set to raise at least €1.4bn, on the third day of the bookbuild.

The Financial Stability Board has reported progress in implementing over-the-counter derivatives market reforms, but has also highlighted where it believes further work is needed and is seeking further market feedback.

Two dollar issuers printed without tightening from initial price thoughts on Wednesday, with one opting for a benchmark and the other tapping central bank demand for floaters.

Swiss foods group Nestlé issued a €500m no-grow bond today, clinching a 25bp spread over mid-swaps and still drawing a €1.6bn order book.

European financial sponsor-related leveraged loan borrowing has fallen 18% this year to date, compared with the previous year, according to Dealogic.

Even-handed European Stability Mechanism is out with a mandate for another bond but which banks will it pick this time?

Royal Dutch Shell has signed a one year extension to a $7.48bn revolving credit facility.

Barclays PLC secured strong demand and tight pricing for its €1.25bn 10 year non-call five tier two notes on Wednesday, leaving market participants optimistic about bank capital supply.